Ploenchit-Chidlom-Wittayu zone maintains resilience in Bangkok market

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While a surge in office building construction across Bangkok has created uncertainty in the rental market, several Grade A office buildings within the prime Ploenchit-Chidlom-Wittayu zone continue to demonstrate robust growth.

This area, a magnet for multinational corporations and major tenants, remains a sought-after location despite the challenges.

Nattha Kahapana, managing director at Knight Frank Thailand, highlighted that while the overall office supply in Bangkok is increasing and hybrid work models are prompting many companies to downsize their office space, this particular zone continues to attract significant investor and tenant interest.

Although occupancy rates have dipped from a peak of 95% in 2019 to 76% today, buildings within this zone exhibit greater resilience compared to other areas of the city. Despite a 30% increase in supply over the past five years, reaching 220,000 square metres, this surpasses the CBD’s overall growth rate of 24%.

The Ploenchit-Chidlom-Wittayu zone maintains its appeal due to its excellent connectivity, encompassing both exceptional public transport links and a concentration of green-certified Grade A office buildings.

Source: The Nation

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